Nano Price Prediction: Is XNO (Nano) a Good Investment?

Nano is a lightweight cryptocurrency designed to facilitate secure, practically instant payments without fees. It calls itself “digital money for the modern world”. It aims to overcome the major limitations of legacy financial infrastructure and many major modern cryptocurrencies, such as high gas fees and slow transaction processes.

According to one of the co-founders, Nano is built to become the most efficient currency the world has seen. The project team believes that with the world moving on to crypto, Nano will be accepted everywhere in the world as real money. Until that the Nano tokens are useful for cross-border transfers. 

The project began in 2014 under the name RaiBlocks and the coin was launched the following year through the public faucet, and the users got a chance to claim a small amount of the token (at that time called XRB) after completing the captcha challenge. It was made to attract as many users as possible through very easy tasks. The number of coins rewarded varied. 

In January 2018 the project was rebranded to Nano to more clearly represent the speed and simplicity of the concept and solution. In January 2021 Nano has changed the token ticker and standard symbol. It was made to bring cryptocurrency to the real world and to comply with the globally recognized standards of the International Organization of Standardization. 

The founder of Nano is software developer Colin LeMahieu. He has a big experience working with prominent tech companies, such as Dell, Qualcomm, and AMD. He is very well-known in the digital technologies world for his experience and also wide interest in numerous spheres related to digital technologies and environmental sustainability. Despite being the inventor of Nano and the biggest contributor to the project’s GitHub, LeMahieu also serves as Director of Nano Foundation — the organization that leads the development of Nano.

Nano is based on directed acyclic graph technology, not a blockchain. It is an underlying technology for setting transactions across the network. Nano applies an Open Representative Voting algorithm to secure the network. There is a network of representatives, chosen by the users of the Nano network by voting. The more votes a representative has, the greater its voting weight. The utilization of these technologies allows Nano to offer faster transactions with the finality achieved in a split of a second. 

Even though Nano claims to achieve scalability and offer more transaction advantages than well-known blockchain networks, there are doubts about whether it can provide a proper level of security. For instance, in 2021 the network was attacked with spam and the users couldn’t send transactions for some time. This type of attack was never possible on Bitcoin as its ecosystem is more mature and durable. 

XNO is a native cryptocurrency of the project. It has a max supply of 133248297.92 Nano, with all of them currently circulating. Originally the max supply was set higher, but later the tokens reaching above the 133 million limits were burnt. The advantage of this cryptocurrency is that it is fully diluted, which makes it highly decentralized and well distributed with the majority of holders having not more than 100 XNO. Just 5% of all the supply was allocated to the project team for the further development of the project.